Bank of America Corp DE Takes Position in CNH GLOBAL N V Foreign (NYSE:CNH)

Bank of America Corp DE bought a new position in shares of CNH GLOBAL N V Foreign (NYSE:CNH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,145,344 shares of the company's stock, valued at approximately $46,967,000. Bank of America Corp DE owned approximately 0.33% of CNH GLOBAL N V Foreign at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new stake in CNH GLOBAL N V Foreign in the fourth quarter valued at $25,000. Quent Capital LLC acquired a new stake in CNH GLOBAL N V Foreign in the fourth quarter valued at $26,000. Anchor Investment Management LLC acquired a new stake in CNH GLOBAL N V Foreign in the fourth quarter valued at $26,000. Principal Securities Inc. acquired a new stake in CNH GLOBAL N V Foreign in the fourth quarter valued at $27,000. Finally, Farther Finance Advisors LLC bought a new stake in CNH GLOBAL N V Foreign during the fourth quarter valued at $27,000. 59.88% of the stock is owned by institutional investors and hedge funds.

CNH GLOBAL N V Foreign Trading Up 0.6%

CNH stock traded up $0.08 during mid-day trading on Tuesday, reaching $13.75. 986,442 shares of the stock traded hands, compared to its average volume of 12,992,652. The company has a current ratio of 13.21, a quick ratio of 10.83 and a debt-to-equity ratio of 3.54. CNH GLOBAL N V Foreign has a 52-week low of $9.28 and a 52-week high of $13.87. The company has a market cap of $17.18 billion, a P/E ratio of 13.35 and a beta of 1.50. The stock's fifty day moving average is $12.12 and its 200-day moving average is $12.05.

CNH GLOBAL N V Foreign (NYSE:CNH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $4.47 billion. CNH GLOBAL N V Foreign had a net margin of 6.62% and a return on equity of 18.00%. CNH GLOBAL N V Foreign's revenue for the quarter was down 20.5% compared to the same quarter last year. As a group, sell-side analysts expect that CNH GLOBAL N V Foreign will post 0.7 earnings per share for the current year.

CNH GLOBAL N V Foreign Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, May 30th. Investors of record on Wednesday, May 21st will be given a dividend of $0.25 per share. This represents a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, May 21st. CNH GLOBAL N V Foreign's payout ratio is presently 57.32%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of CNH GLOBAL N V Foreign from $16.50 to $15.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Northland Securities upgraded shares of CNH GLOBAL N V Foreign from a "market perform" rating to an "outperform" rating and set a $18.00 price target for the company in a research report on Friday, April 11th. Robert W. Baird restated a "neutral" rating and set a $15.00 price target (down previously from $16.00) on shares of CNH GLOBAL N V Foreign in a research report on Monday, March 3rd. Northland Capmk upgraded shares of CNH GLOBAL N V Foreign from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, Truist Financial lowered their price target on shares of CNH GLOBAL N V Foreign from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, CNH GLOBAL N V Foreign has a consensus rating of "Moderate Buy" and an average price target of $14.92.

Insider Activity at CNH GLOBAL N V Foreign

In other CNH GLOBAL N V Foreign news, CEO Gerrit A. Marx sold 320,472 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.64, for a total transaction of $3,730,294.08. Following the transaction, the chief executive officer now owns 375,136 shares in the company, valued at $4,366,583.04. This trade represents a 46.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Oddone Incisa sold 32,910 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.64, for a total value of $383,072.40. Following the completion of the transaction, the chief financial officer now directly owns 821,156 shares of the company's stock, valued at approximately $9,558,255.84. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 432,866 shares of company stock valued at $5,081,828. 1.00% of the stock is currently owned by corporate insiders.

CNH GLOBAL N V Foreign Profile

CNH Industrial NV is an equipment and services company, which develops, manufactures and sells specialized machines and services for the farming and construction industries, and supplies replacement parts and accessories. It operates through the following operating segments: Agriculture, Construction, and Financial Services.